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Currencies

Japanese yen touches 120 to U.S. dollar, weakest in six years

BOJ's Kuroda reiterates loose monetary policy, rallying yen bears

The Japanese yet hit its weakest level in six years on March 22.    © Reuters

TOKYO -- The yen tumbled to 120 against the dollar on Tuesday for the first time in more than six years, as traders reacted to a hawkish remark from U.S. Federal Reserve Chairman Jerome Powell.

The Japanese currency fell as low as 120.43 in Tokyo from its 118.87 level late on Friday. The Tokyo market was closed on Monday for a public holiday.

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